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460 Opal Drive Henderson, NV 89015

3 Beds 2 Baths 1,629 sqft Built 1994

$349,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $214.79
  • 2 Days on Market
  • MLS # : 2262225
  • Updated Date : 01/16/2021 at 22:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,629 sqft
  • Baths : 2 full
Listing Agent

Nationwide Realty Llc

Listing Agent's Description

Spectacular NO HOA, 1 Story Home In Henderson, NV on a large lot. This home has just been renovated with upscale and modern finishes including stainless steel appliances, granite counter tops, a large farmhouse style kitchen sink, light fixtures, new flooring, baseboard, outlets and light switches also! Low annual taxes, easy access to both the 95 and 215 highways makes this home location fantastic for accessing all the stores and restaurants nearby.

SEE MORE

MARKET HIGHLIGHTS

  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $111k340k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451825

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Ulis Newton Elementary School Primary Regular 611 35 7
Lyal Burkholder Middle School Middle Regular 747 34 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
GreatSchools Rating

Lyal Burkholder Middle School

  • Education Level: Middle
  • # of students: 747
  • # of teachers: 34
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,215
Property Tax -$179
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$132

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$349,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$12,819

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,440

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,515

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5003$1,5004$1,6995$1,750
$1,750
RENT COMPS ANALYSIS
  • 460 Opal Drive Henderson, NV 1
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.88
    •  
  • 521 Coolidge Avenue Henderson, NV 2
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1999
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 760 Solitude Point Avenue #0 Henderson, NV 3
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2002
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 639 Ember Rock Henderson, NV 4
    • 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2008
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.94
    •  
  • 264 Pastel Cloud Street Henderson, NV 5
    • 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2007
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Joseph A Tuttle
1.702.280.8644
Nationwide Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262225
Last Updated: 01/16/2021
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